Middle East Economic Survey
VOL. XLVII
No 23
07-June-2004
OPEC
OPEC Lifts Oil Output 1Mn B/D In June, Agrees Staged Increase In Production Ceiling
Walid Khadduri and Bill Farren-Price of MEES report from Beirut.
OPEC has moved to calm surging oil prices by agreeing to lift its production ceiling for the OPEC-10 (without Iraq) by 2mn b/d from 1 July to 25.5mn b/d and by a further 500,000 b/d from 1 August to 26mn b/d. OPEC ministers, meeting in Beirut on 3 June at their extraordinary conference, said...
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